A Philippines PVC producer informed SSESSMENTS.COM that sales are satisfactory as converters’ production rate escalated. The producer mentioned that demand is good and no negative sentiment in the market. Most converters that were running below 50% of normal production rate at the beginning of June now are already running at 70-80% of the normal rate.
According to some rumours, the Philippines government plans to lift General Community Quarantine (GCQ) Status of Metro Manila. The producer predicts that the market condition will improve if and when that happens. In the near term, the producer opined that the market condition will remain at the current state. However, demand will start to decline when the rain starts to pour, the producer said to SSESSMENTS.COM. Traditionally, the monsoon season in the Philippines is from July to October.
Pertaining to PVC offers, the producer revealed to SSESSMENTS.COM that ethylene-based PVC offers from the company remain stable on a weekly comparison. Offers stand between PHP51,000-52,000/ton ($1,022-1,042/ton) on 90 days credit term, FD Philippines basis and including 12% VAT.
